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Summit Power & Linde Join Forces to Develop Projects Deploying Carbon Capture from Natural Gas



  Summit Power & Linde Join Forces to Develop Projects Deploying Carbon
  Capture from Natural Gas

Business Wire

SEATTLE -- February 7, 2013

Summit Power Group, a Seattle-based developer of low-carbon power projects,
and the technology company The Linde Group today announced they have teamed up
to develop commercial-scale natural gas-fired power plants that will capture
up to ninety percent (90%) of the carbon dioxide (CO[2]) that would otherwise
have been emitted. The new power plants will combine well-established and
commercially proven natural gas-fired power plant technology with proven
carbon capture technology.

“In the U.S. and abroad, the electric power sector is making a ‘dash for
gas,’” said Donald Paul Hodel, Summit’s Chairman Emeritus and former U.S.
Secretary of Energy. “Technology is ready to capture the CO[2] that gas-fired
power plants produce, and Summit, in partnership with Linde, is ready to
develop those plants, just as Summit has developed thousands of megawatts of
conventional gas-fired power plants in the past.”

Both Summit and Linde are already active in developing power projects with
CO[2] capture where the CO[2] can be either geologically sequestered in
depleted gas fields and deep saline formations, or injected into depleting
oilfields. Summit is currently developing two major coal gasification projects
that will capture 90% of the CO[2] they produce, namely the Texas Clean Energy
Project (TCEP) in the United States and the Captain Clean Energy Project
(CCEP) in the United Kingdom. Linde is a major technology provider,
engineering and construction contractor, and long-term operations and
maintenance provider to TCEP. Based on their extensive cooperation, Linde and
Summit are now expanding their focus to this new and promising field of
natural gas-based CO[2] capture.

“Merely increasing reliance on natural gas is not a sufficient
carbon-reduction strategy for the hydrocarbon sector of the global power
industry,” said Professor Dr. Aldo Belloni, member of the Executive Board of
Linde AG. “It is still necessary, valuable, and eminently feasible to capture
and geologically sequester the carbon dioxide that natural gas-fired plants
would otherwise emit, just as it is with coal-based plants. Linde has the
capability to achieve this and is ready to deploy it at commercial scale.”

A typical gas-fired power plant with carbon capture developed by Summit and
Linde will produce approximately 250 megawatts (MW) of net electric power,
enough to provide electricity for 250,000 homes, and will capture up to
750,000 tons of CO[2] annually.

Outside the U.S., current carbon capture and sequestration (CCS) policies tend
to favor depleted gas fields and deep saline formations as geological “sinks”
for the captured CO[2]. However, in many U.S. oilfield locations the volume of
CO[2] captured from a typical natural gas-fired power plant can also be used
to produce an additional 1.5 to 2.5 million barrels of oil per year. Injection
of CO[2] for enhanced oil recovery (EOR) hence reduces CO[2] emissions to the
atmosphere as well as increases available oil reserves. Any CO[2] that comes
to the surface with the produced oil is re-compressed and re-injected,
ultimately remaining trapped underground. The resulting oil does not add to
total world oil consumption or demand, but instead replaces the equivalent
volume of oil produced by other means.

Summit and Linde have identified several suitable U.S. locations for this new
type of power plant. Key locations are those where the ultra-low carbon
electric power can be sold to utilities and large consumers, and suitable
geological sequestration sites are available for the injection of CO[2]
underground. Revenue earned from the productive use of captured CO[2], for
example in oilfields, will reduce and in some cases may eliminate any
environmental cost premium that CO[2] capture imposes on power plants.

“Competitively priced electric power is, in the end, a necessity,” said Mr.
Hodel. “But so is clean and environmentally acceptable electric power. Working
with Linde, we believe we can and will be able to achieve both, not just from
coal gasification projects but also from gas-fired power plants.”

The two companies plan to announce their first such project in the coming
months.

About Summit Power Group

Seattle-based Summit Power Group, LLC excels in the innovative development of
electric power projects. Led by experienced professionals with an extensive
knowledge of the energy industry in the United States and abroad, Summit has a
remarkable track record of developing large, low-carbon energy projects, with
over 7,000 megawatts of electric power plants that it has developed for its
clients in operation, and over 2,000 MW in development or under
construction. Total Summit-led projects in service or under contract,
including O & M agreements, represent over 7 billion dollars of investment.
For more information, visit www.summitpower.com.

Contact:

For Summit Power Group
Ray Vincenzo, 206-290-4431
rayvincenzo@yahoo.com
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